AI-driven power demand, LNG growth, and infrastructure bottlenecks are reshaping energy investment faster than ever.

In this episode of In-Basin Observations, Bill Austin sits down with Jason Downie, Co-Founder & Managing Partner at Tailwater Capital, to discuss Tailwater’s differentiated approach across midstream, water, recycling, software, power-linked assets, and upstream energy investments.

The conversation explores major industry shifts, including upstream consolidation, natural gas infrastructure constraints, LNG-driven demand growth, rising AI-related power needs, and the increasing importance of disciplined capital allocation in today’s energy market.

00:00 Show Intro and Guest

01:14 Jason Downie Background

02:35 Why Tailwater Started

03:03 Data Driven Non Op Model

05:23 Full Immersion Value Chain

08:11 What Investors Miss

12:19 Energy Re Rating Post COVID

14:23 Macro Trend Upstream Evolution

15:05 Efficiency Gains and Inventory

19:19 Portfolio Benefits and Permian Gas

21:21 Midstream Platform Buildout

21:59 Texas Last Mile Gas Demand

23:04 LNG Logistics And Bottlenecks

24:21 Structural Gas Demand Shift

28:29 AI Power Demand Economics

29:52 Behind The Meter Boom

31:36 NIMBY Pushback And Grid Fixes

34:24 National Security And Reshoring

35:36 Why Private Ownership Wins

38:36 Geopolitical Risk Premium Wrap